To navigate budget and headcount hurdles, B2B buyers are turning to digital technology to boost efficiency.
B2B organizations are revisiting current practices and finding new ways to achieve better results with fewer resources. 100% of B2B buyers say it’s important to prioritize digital transformation moving forward, says new research from Hero Digital. The top two factors driving this belief are reduced budget (45%) and reduced headcount (41%), both of which have challenged operations and limited efficiency improvements over the past year, according to the Hero Digital survey of 150 B2B buyers.
“Business leaders must find ways to reduce friction across their ecommerce solutions and digital experiences as B2B buyers seek greater efficiencies capable of enabling faster innovation and growth,” the report says. “When supplier relationships fall short, buyers aren’t afraid to take matters into their own hands — with many companies already pursuing internal improvements as a mechanism to increase efficiency and bolster digital experiences and offerings.”
The majority of B2B buyers (60%) also reported that their organization uses a combination of digital platforms they’ve purchased and built in-house. 90% of B2B buyers’ organizations plan to leverage AI as part of their digital strategy in some way over the next 12 months —primarily to forecast sales and provide a better CX.
Survey respondents said the top challenges B2B buyers face when researching purchases for their business include:
- Understanding product specifications/configurations
- Inconsistent product or service information across channels
- Understanding how products would fit their business
- Finding product or service information that is up to date
- Understanding pricing
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